Business
New Zealand Energy Corp. Closes Funding Agreement
Vancouver, British Columbia--(Newsfile Corp. - February 4, 2026) - New Zealand Energy Corp. (TSXV: NZ) ("NZEC" or the "Company") is pleased to announce that it has closed its previously announced definitive funding agreement (the "Agreement") with Monumental Energy Corp. ("Monumental") (TSXV: MNRG), effective January 12, 2026, with respect to the area covered by NZEC's 50% interest in PML 38140 and PML 38141 (together, the "Licenses") located in onshore Taranaki, New Zealand. Pursuant to the...
About this update from New Zealand Energy Corp.
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - February 4, 2026) - New Zealand Energy Corp. (TSXV: NZ) ("NZEC" or the "Company") is pleased to announce that it has closed its previously announced definitive funding agreement (the "Agreement") with Monumental Energy Corp. ("Monumental") (TSXV: MNRG), effective January 12, 2026, with respect to the area covered by NZEC's 50% interest in PML 38140 and PML 38141 (together, the "Licenses") located in onshore Taranaki, New Zealand.","length":544,"tagName":"p"},{"type":"text","content":"Pursuant to the Agreement, Monumental will fund NZEC's share of certain mutually agreed workover projects aimed at increasing oil and gas production from the Licenses. In consideration, NZEC has granted Monumental a project-specific royalty, effective upon satisfaction of all conditions precedent and commencement of production. Monumental will initially receive 75% of net receipts, payable quarterly, until its funded costs have been recovered, after which Monumental will receive an ongoing royalty equal to 25% of net receipts.","length":536,"tagName":"p"},{"type":"text","content":"About New Zealand Energy Corp.","length":30,"tagName":"p"},{"type":"text","content":"NZEC is a publicly listed energy company focused on the development of oil, gas, and gas-storage opportunities in New Zealand. The Company holds interests in multiple heritage assets and development-stage projects, including the Tariki Gas Storage Project in Taranaki. With a 50% ownership stake in the Waihapa production station, the Company can quickly tie in any near-term production and sell directly to market. For more information, please visit www.newzealandenergy.com.","length":476,"tagName":"p"},{"type":"text","content":"For further information: ","length":24,"tagName":"p"},{"type":"text","content":"Toby Pierce, Chief Executive OfficerEmail: [email protected] Website: www.newzealandenergy.com","length":104,"tagName":"p"},{"type":"text","content":"Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.","length":208,"tagName":"p"},{"type":"text","content":"Forward-Looking Statements","length":26,"tagName":"p"},{"ty...